Published on 10/11/2017 by Any Business.Com.Au

Small business, social media and the benefits

If used wisely, social media can be a powerful business tool - here we take a look at some of the opportunities and benefits social media can create for a small business.

  • Revenue -

    The most obvious opportunity is to generate revenue. This can be done through building a community or advertising your products or services within the social media platform. If you choose to advertise in social media, the ads can either link back to your business' social media page or sometimes to your website. This can mean that you're able to benefit from social media without needing to have a channel.

  • Brand development -

    Using social media allows your customers to connect and interact with your business on a more personal level. If you already have an established brand, social media might be an opportunity to further develop your brand and give your business a voice.

  • Attracting customers -

    Social media can be a good way of attracting new customers. For example, when considering social media campaigns, you could try to attract followers with promotions or giveaways. Once you have a good following you can focus on more personalised social media campaigns to encourage them to stay.

  • Research -

    Even if you think social media is not suited to your business or that you don't have the time, simply logging on to see what your competitors are doing in this space, or finding out what your customers are saying about you might be a valuable exercise.

  • Networking -

    Networking can be a valuable way to exchange ideas with like-minded people to improve the way you do business. Using online networking sites can also be valuable to your business, often for the purpose of knowledge sharing and word-of-mouth referrals.

  • Recruitment -

    Some organisations use social media to advertise vacant positions. Job networking sites like LinkedIn are dedicated to the job market and can help you use networks to attract skilled people.

  • Search-engine discoverability -

    Your website's ranking in the search results of various search engines can sometimes be affected by the size and influence of your social network. As your social following grows, your visibility in search engines may also increase. This is a common Search Engine Optimisation (SEO) strategy.

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AnyBusiness.com.au

Curtis is a leading expert in the business-for-sale industry, serving as a senior content creator at anybusiness.com.au.

With a career spanning over fifteen years, Curtis has accumulated extensive knowledge in the domain of business sales, acquisitions, and valuations. His deep understanding of market dynamics and his ability to translate complex industry jargon into accessible insights make him a trusted resource for entrepreneurs and business owners looking to buy or sell businesses.

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